Whales Accumulate as Zcash Price Consolidates Near ATH

The Zcash (ZEC) price has been consolidating after its strong September rally reached an all-time high of $1,686. Although the token has pulled back to around $1,400, it remains in a bullish range and is still within striking distance of higher targets.

Large holders, or whales, are accumulating ZEC despite the recent price correction. According to on-chain data from Lookonchain, two wallets linked to the same whale withdrew 24,706 ZEC worth approximately $28.17 million from Binance and Gate over the past month. This suggests that the whale is positioning for longer-term exposure.

The current level of support for the ZEC price is around $1,400. If this zone holds, it could give buyers room to push the price back toward $1,500 and then $1,600. However, a break below $1,400 could open the door to deeper losses and weaken the bullish setup.